-

Alvotech Disputes AbbVie’s Recent Allegations

REYKJAVIK, Iceland--(BUSINESS WIRE)--Alvotech strongly disputes AbbVie’s allegations of wrongdoing relating to AVT02, Alvotech’s proposed biosimilar to HUMIRA® (adalimumab). Alvotech will vigorously defend against these allegations.

Notably, AbbVie waited over three years from the purported date of the alleged wrongdoing to file its case, doing so after the ex-AbbVie employee had already left Alvotech and without naming the ex-AbbVie employee as a defendant.

This lack of urgency causes Alvotech to question the motivation behind the case. Indeed, Alvotech believes that the case may be part of a larger AbbVie strategy to delay an emerging competitor from providing patients with a lower-cost alternative to AbbVie’s HUMIRA® high-concentration product.

Alvotech will continue its efforts to increase accessibility to high quality and affordable medicines.

About Alvotech:

Alvotech is a multinational biopharmaceutical company focused on the development and manufacture of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech’s shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Cipla Gulf FZ from Australia and New Zeland, Shinhan from Korea, Baxter Healthcare SA, YAS Holdings, ATHOS (Strüngmann Family Office), CVC Capital Partners and Temasek from Singapore.

Alvotech‘s initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.

Contacts

Alvotech
Corporate Communications
Elisabet Hjaltadottir
E-mail: Alvotech.media@alvotech.com

Industry:

Alvotech

Release Versions
EnglishSpanishPortugueseGermanFrenchItalian (Summary)Dutch (Summary)Chinese TraditionalChinese SimplifiedJapanese

Contacts

Alvotech
Corporate Communications
Elisabet Hjaltadottir
E-mail: Alvotech.media@alvotech.com

More News From Alvotech

Alvotech Upsizes Oversubscribed PIPE Transaction to Approximately $175 Million

REYKJAVIK, Iceland--(BUSINESS WIRE)--Alvotech Holdings S.A. (“Alvotech”), a leading global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, and Oaktree Acquisition Corp. II (“Oaktree II”) (NYSE: OACB), a publicly traded special purpose acquisition company sponsored by an affiliate of Oaktree Capital Management, L.P., today announced $21 million in additional commitments for a private placement (“PIPE”) of Oaktree II comm...

JAMP and Alvotech Announce Canadian Approval of SIMLANDI™, a High-Concentration Biosimilar to Humira®, Providing Access to Previously Unavailable Versions in Canada

REYKJAVIK, Iceland & BOUCHERVILLE, Quebec--(BUSINESS WIRE)--Alvotech Holdings S.A. (“Alvotech”), a global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, and JAMP Pharma Group (“JAMP Pharma”), a Canadian owned pharmaceutical company headquartered in the Montreal area, announced today that Health Canada has granted marketing authorization to JAMP Pharma for a high-concentration biosimilar to Humira® (adalimumab), develop...

AVT02, Alvotech’s Biosimilar to High Concentration Formulation of Adalimumab (Humira®) Approved for Use in European Union

REYKJAVIK, Iceland--(BUSINESS WIRE)--Alvotech Holdings S.A. (“Alvotech”), a global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, received approval for AVT02 (100 mg/mL), the company’s high concentration biosimilar to Humira® (adalimumab), from the European Commission (EC) on Nov. 15. The centralized marketing authorization in the European Union (EU) follows the recommendation of the Committee for Medicinal Products fo...
Back to Newsroom